5 Steps to Reduce Insurance Write-offs
Are your write-offs ballooning out of control?
That’s what a dentist told us about his write-offs a few months ago.
Like a patient ignoring a painful tooth, your insurance problems are just going to get worse if you don’t do something about them.
Luckily, ACT Coach Adriana Booth has just the prescription for your write-off woes.
You’ll want to have a spreadsheet handy, and take a 5-step approach to deflating those ballooning write-offs.
First, determine your top 25 billed codes and your full fee for each.
Next, identify the insurances you are in network with currently.
Third, include the allowable amount for each of those top 25 codes.
The fourth piece of data is the frequency of your top 25 codes: How many of those codes were billed per plan last year?
Finally, enter the revenue from those top 25 codes.
Let’s say your MetLife reimbursements for a one-hour hygiene appointment are about $110, but that doesn’t cover your costs/overhead for that appointment. Is it really worth holding on to that provider?
The key is to see what insurances are inflating your write-off balloon.
Need help deflating it? We are always here to help!
You can call us about your insurance woes or questions any time!